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2018 (9) TMI 1028 - HC - Income TaxAssessment of exercise of the stock option plan by the assessee - assessed as long-term capital gain OR treating the same as perquisite - Held that:- What was to be decided by the Tribunal was that whether it was a perquisite, which is in addition to the salary of the assessee or otherwise unless and until that question was decided by the Tribunal, the question of remanding the matter to the Assessing Officer does not arise. This so in the light of the specific plea raised by the Revenue before the Tribunal. Thus, we find that the matter should be first adjudicated on facts and the Tribunal should take a decision on the stand taken by the Revenue before it. This is called for because, the CIT(A) did not deal with the said issue while passing the order dated 30.01.2008. Though the CIT(A) states that he finds considerable force in the claim of the assessee, there is no reason to substantiate as to how the CIT(A) came to the conclusion that the stand of the assessee that the income relating to stock option should be charged as long-term capital gains merits acceptance. We find that there were no reasons assigned by the CIT(A) to come to the conclusion that it was a stock option scheme and chargeable as capital gains - We allow these appeals, set aside the impugned order passed by the Tribunal and restore the appeals to the file of the Tribunal to decide the case afresh on merits
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